Behind every billionaire there is a story!

Zell Sets New Tone As Tribune Co.’s CEO

Real estate mogul Sam Zell strode into Tribune Co.’s ornate headquarters in his trademark jeans and cowboy boots and declared that things will be different from now on at the 160-year-old newspaper and TV company. Whether that means a turnaround for a struggling, debt-laden company remains to be seen.The blunt-spoken billionaire insisted after assuming the CEO and chairman titles Thursday that he isn’t interested in Rupert Murdoch-like editorial control, widespread cost-slashing or an imminent sell-off of Tribune assets other than the Chicago Cubs and Wrigley Field.

Instead, he talked of rebuilding the media conglomerate from the bottom up so it will be able to make faster decisions and figure out how to increase revenue in an industry battling steep decline.

”I believe this company has spent a significant amount of time in the last five years cutting costs, and maybe not enough time on increasing revenue,” Zell said in a news conference at Tribune Tower after touring the Chicago Tribune newsroom to meet employees. ”Our focus, and our bet, is that we can significantly increase the revenue of this company and dramatically increase its profitability going forward.”

read the rest published by NY Times here:

http://www.nytimes.com/aponline/business/AP-Tribune-Sale.html?_r=1&oref=slogin